Global Omega-3 Pet Supplement Market is valued at approximately USD 1.19 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.9% over the forecast period 2024-2032. Omega-3 pet supplements are concentrated sources of essential fatty acids, like EPA and DHA, typically derived from fish oil. These fatty acids offer a range of benefits for pets, promoting healthy skin and coat, supporting joints, and potentially boosting immunity and heart health. The increasing awareness of overall pet health and wellness, coupled with an understanding of the benefits of omega-3 supplements, is significantly driving the market. The rapid rise in pet adoption globally is creating new growth avenues for manufacturers of omega-3 pet supplements.
The demand for omega-3 pet supplements is increasing rapidly across the world. As a result, key companies are focusing on acquisitions to expand their product portfolio, regional presence, and distribution networks. The surge in pet ownership globally is expected to play a crucial role in boosting sales during the forecast period. There is a notable spike in pet adoption, particularly in the United States, driven by the growing number of pet enthusiasts, which, in turn, is creating lucrative growth prospects for market players. According to WorldAnimalFoundation.org, around 4.8 million cats and dogs are adopted annually in the United States. This surge in pet adoption is anticipated to increase the importance and usage of pet supplements, including omega-3-based ones. Nations with higher pet adoption rates will eventually become key targets for manufacturers of omega-3 pet supplements. Thus, companies need to closely monitor pet adoption rates before entering a region or expanding their presence.
The growing popularity of pet humanization and increasing interest in preventive healthcare are key trends in the omega-3 pet supplement market. Because of the pet humanization trend, pet owners are willing to spend more on the health and well-being of their animals, which is likely to boost demand for premium pet products, including omega-3-based supplements. Innovations in the production of omega-3 pet supplements are also creating new growth avenues, with leading players shifting their focus toward developing plant-based omega-3 pet supplements. This will provide an additional thrust to market expansion through 2034.
The increased prominence of healthy products by prominent marketers, independent retailers, and large pet specialty stores is boosting awareness of pet supplements. Pet owners are increasingly looking for high-quality supplements for their animals, and retailers are adapting by educating themselves on the science behind condition-specific supplements. Omega-3 supplements for pets are becoming more accessible and easier to understand, with retailers assisting pet owners in refining their pets' diets with natural supplements by categorizing and showcasing these products based on their benefits, purposes, and functions.
The key regions considered for the global Omega-3 Pet Supplement Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Omega-3 Pet Supplement Market in terms of revenue. The market growth in the region is being attributed to factors including growing trend of pet humanization and rising pet ownership. Pet owners, viewing their companions as family, are increasingly invested in their health. This, coupled with awareness of omega-3's benefits for joint health, skin, and potentially cognitive function in pets, fuels market growth. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by growing pet ownership trend and rising disposable income. Fueled by a focus on premium pet care and increasing awareness of omega-3's health benefits for pets' skin, joints, and potentially cognitive function, pet owners in this region are spending more on these supplements.
Major market players included in this report are:
1. Nutramax
2. Nordic Naturals
3. Bayer
4. Nutri Pets
5. Vet's Best
6. Eukanuba
7. Hill's
Simen Pets
Solid Gold
NutraPak USA
BioThrive Sciences
Icelandirect
Genesisomega
Iams
Exerfit Wellness
The detailed segments and sub-segment of the market are explained below:
By Pet Type:
Dogs
Cats
Birds
Others
By Form:
Capsule
Chewable
Gel
Liquid
By Application:
Bones and Muscles
Skin and Coat Health
Digestive Health
Immune System
Weight Management
By Sales Channel:
Store-Based Retailing
Hypermarkets/Supermarkets
Convenience Stores
Mom & Pop Stores
Pet Food Stores
Independent Grocery Retailers
Other Retail Formats
Online Retailers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
